The Table Identifies Annual Gross Domestic Product (GDP) in Billions

question 23

Multiple Choice

The table identifies annual gross domestic product (GDP) in billions of dollars) for country X. Year

$$\begin{array} { l l l l } \hline \text { Year } & \text { GDP } & \text { Year } & \text { GDP } \\\hline 2006 & 1,107 & 2011 & 2,614 \\2007 & 1,397 & 2012 & 2,460 \\2008 & 1,695 & 2013 & 2,465 \\2009 & 1,667 & 2014 & 2,417 \\2010 & 2,208 & 2015 & 1,774 \\\hline\end{array}$$
Based on the table, during which years(s) was country X most likely to have been in a recession?

• A) 2014 and 2015
• B) 2009, 2012, 2014, and 2015
• C) 2009, 2012, 2013, 2014, and 2015
• D) 2012 through 2015
• E) 2009

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Definitions:

Loaves

Typically refers to units of bread shaped and baked in specific sizes and forms but does not directly correlate to a distinct economic term.

Pounds

A unit of weight in the imperial system, equal to 16 ounces or approximately 0.453592 kilograms.

Consumer Equilibrium

A state in which a consumer has allocated their income in a way that maximizes their total utility, given the prices of goods and services.

Total Utility

The total satisfaction received from consuming a particular quantity of goods and services.